Ready to purchase a short sale?

A short sale happens when the seller's lender consents to accept a reduced payoff to release a mortgage. Should you have questions about real estate in Jacksonville, North Carolina, contact me here or e-mail me.

Purchasing a short sale in Jacksonville, North Carolina on your own is risky. Contact Choice Jacksonville Realty for expert advice.

Can I get a bargain on a short sale?

From time to time, yes. Many people hear the term "short sale" and routinely think of a seller that is in financial trouble and must sell their home promptly to avoid further financial problems. This is at times the case and can be an opportunity for a buyer to do well from another's misfortune. More commonly, a lender may consider a short sale even if the seller is current, but property values have fallen. In cases such as these the reduced price may in fact be closer to actual market values instead of below.

Are you ready to buy a short sale property?

  • Always do your research before making any offers. Using a qualified real estate professional from Choice Jacksonville Realty to assist you with researching a property can help you make informed decisions. We can help discover to whom the property is titled, the amount owed to the lender, and whether or not a foreclosure notice has been filed. Having this information can help you determine how much to offer.
  • Use a real estate agent with short sale expertise. Choice Jacksonville Realty can aid you in expediting the transaction and ensure that you're protected. Don't permit inexperience to hinder the closing process. Put my knowledge and experience to work for you.

  • Even with an experienced real estate agent and under the best of situations, buying a short sale property will generally take longer than a typical real estate transaction. Be aware that a majority of short sales will not close in 30 days or less. Remember that you're not only having to satisfy the seller, but the lender must also agree to the discounted price. In most cases your offer will be seen by a committee to approve or disapprove, which will add time - sometimes even 2 to 3 months.
  • Home protection warranties, buyer credits and allowances, and closing cost concessions are generally not negotiable when buying a short sale. The lender will sell the property as seen which means the lender will not be paying for repairs. Make sure to reserve the right to have inspections for pests, HVAC, electrical, and other critical areas. At Choice Jacksonville Realty, when I write an offer, I am looking out for your interests above all else and will always advise you to make your offer contingent upon the results of the inspections.
When it is time to buy, whether it is a short sale or a typical home sale, Choice Jacksonville Realty can help you. Use my experience and knowledge of real estate to be certain you are getting a fair deal and are protected during the complete process.